Dual-Income Property on Clayton Road

Description

This dual-income property presents an excellent investment opportunity. Located in ever popular Clayton road, 307 & 307a Clayton Road offers a combination of a 3-bedroom house and a 1-bedroom unit.

The House (3 bedroom):

  • Recently Renovated: Freshly painted interior and new carpet.
  • Income: Currently rented for $600 per week. Explore the possibility of converting to a 4-bedroom for increased rental income.
  • Outdoor Space: Enjoy a private backyard and single garage.
  • Potential: utilizing the space in the lounge that was previously a staircase to create a 4th bedroom and update the kitchen. Rent potential $650 - $670 PW. Approximate cost of work $13,500

The Unit (1 bedroom):

  • Efficient Layout: Open-plan living and an additional room (ideal for study or storage).
  • Income: Currently rented for $500 per week.
  • No Off-Street Parking: Ideal for tenants who rely on public transport or have minimal vehicle needs.

Total Income and Yield:

  • Current combined Income: $1100 per week
  • Gross Yield: 7.9%
  • Potential combined income: $1170 per week
  • Potential combined income: 8.2%

PROPERTY DETAILS
  • Bedrooms: 4
  • Bathrooms: 2
  • Car parking:
  • Floor area: 205m2
  • Land area: 618m2
  • Estate type: Freehold
  • Rental status: downstairs rented at $500pw<br />
    upstairs rented at $600
LOCATION
  • $725,000
  • Gross yield: 7.9%
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ABOUT THE AGENT

Kara Niles

Licensed Salesperson
REAA 2008